FX.co ★ Indicator analysis. Daily review of the GBP/USD pair for August 24, 2021

Trend analysis (Fig. 1).

Today, the market from the level of 1.3716 (closing of yesterday's daily candlestick) will try to continue moving upwards with the target of 1.3791 - the 50% retracement level (blue dotted line). When this level is tested, it is possible to continue working upwards.

Figure 1 (Daily Chart).

Comprehensive analysis:

• Indicator analysis - up;
• Fibonacci levels - up;
• Volumes - up;
• Candlestick analysis - up;
• Trend analysis - up;
• Bollinger lines - down;
• Weekly chart - up.

General conclusion:

Today, the price from the level of 1.3716 (closing of yesterday's daily candlestick) will try to continue moving upwards with the target of 1.3791 - the 50% retracement level (blue dotted line). When this level is tested, it is possible to continue working upwards.

Alternative scenario: from the level of 1.3716 (closing of yesterday's daily candlestick), it will try to continue moving upward with the target of 1.3746 - the 38.2% retracement level (blue dotted line). Once this level is tested, it is possible to work downward with the target of 1.3668 - the 76.4% retracement level (red dashed line). When this line is tested, it is possible to work upwards.